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GROWTH IN LATIN AMERICA AND THE CARIBBEAN WILL REACH TO 3.5% IN 2013

ECLAC released its updated Economic Balance report, which updates the figures and information delivered in December 2012 on the economy of Latin America and the Caribbean. The result for 2013 is due, on the one hand, to the higher growth in Argentina by 3.5% and Brazil by 3.0% due to the recovery of agricultural activity and investment.

The United Nations agency foresees a slightly lower regional growth compared to the estimate given last December (3.8%) due mainly to the uncertainty kept about the future of the international economy, the low dynamism of developed economies and the somewhat less dynamic recovery of what was expected in Argentina and Brazil.

 

Paraguay will lead the expansion in 2013 with an expected growth of gross domestic product (GDP) of 10%, followed by Panama (8.0%), Peru (6.0%) and Haiti (6.0%). Bolivia, Chile and Nicaragua will grow 5.0%, while Colombia will grow in 4.5% and Uruguay 3.8%.
Mexico, with an expected growth of 3.5% in 2013 and the Central American economies, as well as Cuba, Haiti and the Dominican Republic (3.8%) would benefit from further growth in the United States, to what an improvement of the agricultural sector (especially in Cuba, Nicaragua and the Dominican Republic) and construction (in Guatemala, Haiti and Honduras) is added.

The South American countries, which are generally more specialized in the production and export of raw materials, will grow on average 3.5% in 2013, thanks to the support of the growth of the Asian economies. This would have a positive impact on both the level of income as in the performance of export activities.

In the Caribbean the acceleration in the pace of growth will continue with an expected increase of 2.0% as a result of the dynamism of the economies specialized in the production and export of raw materials (Guyana and Suriname, mainly) and the recovery in countries focused on tourism services as a product of the improved economic situation in the United States.

To view the chart Latin America and the Caribbean. Gross domestic product 2010-2013Click here;
To view full document: Economic balance updated in Latin America and the Caribbean 2012: http://goo.gl/17jUx
Source: Web picking

 

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